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Number of bankruptcy filings nationwide by chapter U.S. 2007-2020

Annual number of bankruptcy cases filed in the United States from 2007 to 2020, by chapter

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Source

Release date

December 2020

Region

United States

Survey time period

2007 to 2020

Supplementary notes

* Includes cases filed under chapters 9, 12 and 15 as well as Section 304. Value calculated by Statista using figures provided by the source.

Values prior to 2019 taken from previous reports.

Chapter 7 bankruptcy is the debtor's (non-exempt) assets are sold to repay outstanding debts, with the remainder of the debt not needing to be repaid. Qualification for Chapter 7 bankruptcy is contingent on earning below a certain income threshold.

Chapter 11 bankruptcy is where the debtor negotiates with their creditors to alter the terms of their repayments. While the terms of the loans are changed, the outstanding debt still needs to be repaid.

Chapter 13 bankruptcy is where debtors propose a repayment plan over a three- to five-year period. It is only available to those with sufficient disposable income to service their debts and allows for the debtor to avoid the sale of their assets to repay their outstanding debt.

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Statistics on "Bankruptcy in the U.S."

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